FADS AND TRENDS

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 FADS
 A product, service, or idea that is extremely
popular for a very brief period of time and then
becomes unpopular just as quickly.
 Some examples are:
 hula hoops
 Rubik’s cube
 Cabbage Patch Kids
 Pokemon

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FADS
 Movies, books, song, television
programs
 Phrases, gestures
 Novelty products, toys and games are
most common
 Sometimes referred to as a “rage” or a
“craze”
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FADS
 Because fads are so unpredictable, they
can be a high-risk venture.
 When a fad dies, it dies very quickly, and
many businesses have been caught with a
large product inventory that no one wants to
buy.
 Entrepreneurs can take advantage of fads
for a short time and must learn to recognize
them.
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 TRENDS
 A pattern or direction in the way
something is changing; a movement
toward a style or idea
 Have a more long lasting effect on the
marketplace
 Examples include:
 In-line skating
 Organic food products
 Environment industry
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TRENDS
 By paying attention to trends,
entrepreneurs can take advantage of
the opportunity to start and/or maintain
a business dealing in that trend
 Entrepreneurs must learn to tell a fad
from a trend—an important skill for an
entrepreneur who wants to stay in
business
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TURNING TRENDS INTO
OPPORTUNITIES
 When you spot what appears to be a
trend, ask yourself …
 What caused this trend to start?
 How long will it probably last?
 What effects will it probably have?
 What product or service might fill the
needs generated by this trend?
 How can I adapt my existing product to fit
with this trend?
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GLOBAL TRENDS
 At an international conference in 1999,
called the Global Meeting of
Generations, the following five major
population trends were identified:

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GLOBAL TRENDS

1. The world population is at an all-time

maximum and is continuing to grow.
The total populations of developed
countries like Canada, will decrease
from 20% of the world’s population to
10% by 2100

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GLOBAL TRENDS

2. More than 50% of people in the world

are under 25 years of age. The
number of young people who will
enter the work force in the next 10
years will be greater than the number
of people who made up the entire
work force of the developed world in
1990.
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GLOBAL TRENDS

3. By 2150, the average life expectancy

is likely to be 86 for males and 92 for
females. For the first time in history,
the population over 65 is greater than
the population under 15. Seniors are
expected to represent 25% of the total
population by 2050.

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GLOBAL TRENDS

4. Families are shrinking in size. Two-

income families, city living,
crowding, and social pressures are
contributing to smaller numbers of
children per family in most
countries.

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 GLOBAL TRENDS
5. People are moving away from rural
communities and into cities and towns.
By 2025, about 66% of the world’s
population will likely live in towns and
cities. This will allow people more varied
choices as they pursue work and
entrepreneurial opportunities.

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